Sumitomo Mitsui DS Asset Management Company Ltd Has $4.96 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,058 shares of the company’s stock after acquiring an additional 2,641 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Electric Power were worth $4,959,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AEP. Lindbrook Capital LLC grew its position in American Electric Power by 9.6% during the 4th quarter. Lindbrook Capital LLC now owns 3,246 shares of the company’s stock worth $264,000 after acquiring an additional 284 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of American Electric Power by 798.5% in the fourth quarter. DT Investment Partners LLC now owns 593 shares of the company’s stock valued at $47,000 after buying an additional 527 shares in the last quarter. abrdn plc raised its holdings in shares of American Electric Power by 1.9% in the fourth quarter. abrdn plc now owns 258,063 shares of the company’s stock valued at $20,960,000 after buying an additional 4,876 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its position in American Electric Power by 0.8% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 309,139 shares of the company’s stock worth $25,108,000 after buying an additional 2,302 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in American Electric Power during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

AEP stock opened at $84.90 on Tuesday. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $94.73. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The firm has a market cap of $44.71 billion, a PE ratio of 19.98, a P/E/G ratio of 2.98 and a beta of 0.51. The business’s 50-day moving average price is $83.05 and its two-hundred day moving average price is $80.15.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.12 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AEP shares. BMO Capital Markets boosted their target price on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Cfra reaffirmed a “buy” rating and set a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Barclays lifted their target price on American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. LADENBURG THALM/SH SH lowered American Electric Power from a “neutral” rating to a “sell” rating and cut their price target for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Finally, UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.08.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.